The Water Industry Act 1991 Order 2024
12 March 2024
Amends/Commences: Water Industry Act 1991
Comes into force: 23rd February 2024
Jurisdiction: England, Wales
Changes are made to Schedule 2 of the Act to enable the transfer of assets by hive-down*, when a failing water industry company is in special administration.
*A transfer by hive-down enables the special administrator to transfer the whole or part of a regulated business to a wholly owned subsidiary before the securities in that subsidiary are transferred to new owners.
This amendment has no direct relevance to environmental matters.
For more information, click here.
Comes into force: 23rd February 2024
Jurisdiction: England, Wales
Changes are made to Schedule 2 of the Act to enable the transfer of assets by hive-down*, when a failing water industry company is in special administration.
*A transfer by hive-down enables the special administrator to transfer the whole or part of a regulated business to a wholly owned subsidiary before the securities in that subsidiary are transferred to new owners.
This amendment has no direct relevance to environmental matters.
For more information, click here.